FCA warns advisers of misconduct risks during homeworking

Industry News | 12/01/21

The FCA has warned advisers that risks from misconduct “may be heightened or increased by homeworking”, particularly due to increased use of unmonitored or encrypted apps such as WhatsApp.

The FCA said that using apps such as Whatsapp to share potentially sensitive information can present “significant compliance risks, since firms will be less able to effectively monitor communications using these channels”.

In its newsletter, the regulator said it expects firms to “continue to comply with the recording obligations in our Senior Management Arrangements, Systems and Controls sourcebook (SYSC 10A)”.

Source: Financial Reporter